Janus Henderson Group PLC Buys 8,462 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Janus Henderson Group PLC boosted its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 396,434 shares of the real estate investment trust’s stock after buying an additional 8,462 shares during the quarter. Janus Henderson Group PLC owned 0.80% of EastGroup Properties worth $63,657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Cohen & Steers Inc. boosted its stake in shares of EastGroup Properties by 141.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,855,920 shares of the real estate investment trust’s stock worth $458,347,000 after purchasing an additional 1,673,663 shares during the period. Raymond James Financial Inc. purchased a new position in shares of EastGroup Properties during the fourth quarter valued at approximately $116,756,000. Norges Bank bought a new position in shares of EastGroup Properties during the fourth quarter valued at approximately $100,579,000. Daiwa Securities Group Inc. grew its stake in shares of EastGroup Properties by 210.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 707,732 shares of the real estate investment trust’s stock valued at $113,584,000 after buying an additional 479,873 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of EastGroup Properties by 91.3% in the fourth quarter. Northern Trust Corp now owns 811,196 shares of the real estate investment trust’s stock worth $130,189,000 after buying an additional 387,134 shares during the period. Institutional investors own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler dropped their price objective on EastGroup Properties from $175.00 to $172.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Raymond James reissued a “strong-buy” rating on shares of EastGroup Properties in a research note on Wednesday, May 7th. Royal Bank of Canada cut their price target on shares of EastGroup Properties from $189.00 to $183.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 29th. Evercore ISI lifted their price objective on shares of EastGroup Properties from $179.00 to $180.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Finally, Barclays lowered their price objective on shares of EastGroup Properties from $193.00 to $182.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, EastGroup Properties has an average rating of “Moderate Buy” and an average target price of $187.40.

EastGroup Properties Stock Performance

Shares of NYSE:EGP opened at $171.29 on Wednesday. The firm has a 50 day moving average of $167.27 and a 200 day moving average of $169.52. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $9.00 billion, a price-to-earnings ratio of 36.84, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $192.61.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 EPS for the quarter, topping the consensus estimate of $2.11 by $0.01. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. The firm had revenue of $174.45 million during the quarter, compared to analyst estimates of $169.67 million. During the same period in the previous year, the company posted $1.98 EPS. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, sell-side analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $1.40 per share. The ex-dividend date was Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.27%. EastGroup Properties’s payout ratio is 122.54%.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.